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Karl Denninger: America's Alarm Clock Has Rung - Time's Up

Here's the deal folks. The banksters asset-stripped the public. Twice. The first time in the 1990s with the Internet bubble, the second time in houses. If you bought a home from 2003 onward you got screwed. It doesn't matter if you were a good borrower or not - you overpaid. American business was also asset-stripped. We covered this by shipping our labor off to China, India and Vietnam. During the last part of the 2000 decade, the Federal Reserve, Bank Regulators, Government and the Banks themselves were all in on it. We know this. We know it because Citibank's former Chief Underwriter has testified to it under oath. It is not speculation or mathematics, it is admitted fact. This was an intentional, malicious act that involved government and finance. Your "representatives" didn't represent you, they represented the banks. They acted as guards not of your wealth, but instead they held you at gunpoint while the bank robbed you. This is the proximate cause of the market and economic collapse - your productive wealth was literally stolen through these frauds. Now they're at it again. First, Ben Bernanke imposed, without a vote, a tax on the American People of over $1 trillion through his original "QE " game. This went immediately into commodity and stock prices worldwide but was in fact a tax on you, and on every productive business. This is the reason that unemployment remains at close to 10%. By now we should be well on our way to recovery. The government blew $600 billion on stimulus programs. They got nothing for it because of QE, which took it all back out, plus more through the tax - a tax that went directly into the bankers pockets. This unlawfully-imposed tax was used to cover the banks' insolvencies, along with the blatant extortion practiced by Rep. Kanjorski on FASB (who, incidentally, lost his seat Tuesday.) But the banks did not clear their balance sheets - they are, in fact, still insolvent. Instead, they literally took the money and paid it in bonuses. Now that the banks are once again running out of money Ben Bernanke is at it again. He has announced another $600 billion in illegal taxation on America, and intends to give it again to the bankers. A good part of it already showed up in oil and other commodities. The rest of it will. It is guaranteed. The "benefit" will go overseas. The tax will fall on you. THIS IS THE LARGEST TAX EVER IMPOSED ON THE AMERICAN PEOPLE IN THE HISTORY OF THE NATION. IT IS MORE THAN FOURTEEN TIMES THE BUSH TAX CUTS "ON THE RICH" THAT EVERYONE IS DEBATING. GOLDMAN SACHS BELIEVES THAT BERNANKE WILL IMPOSE A TOTAL TAX THROUGH QUANTITATIVE EASING OF MORE THAN FOUR TRILLION DOLLARS OVER THE NEXT TWO YEARS, OR MORE THAN FIFTY SEVEN TIMES THE BUSH TAX CUTS. If you, America, do not rise and stop this NOW you're all going to be effectively dead economically.

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